Indicators

The reason the Thursday morning announcement of storage totals by the Energy Information Administration (EIA) has become the number for the industry and traders alike to hang their gas hats on is because it is the only up-to-date supply-demand information available, several witnesses told the Federal Energy Regulatory Commission Tuesday.

As if the natural gas market needed more bullish indicators, forecasters at the National Oceanic and Atmospheric Administration (NOAA) last week predicted an above-normal Atlantic hurricane season. The NOAA seasonal hurricane outlook calls for 12 to 15 tropical storms, with six to eight systems becoming hurricanes, and two to four of those major hurricanes.

As if the natural gas market needed more bullish indicators, forecasters at the National Oceanic and Atmospheric Administration (NOAA) said Monday predicted and above-normal Atlantic hurricane season. The NOAA seasonal hurricane outlook calls for 12 to 15 tropical storms, with six to eight systems becoming hurricanes, and two to four of those major hurricanes.

With no support from crude or any other indicators on Friday, the Nymex May natural gas futures contract heading towards expiry found nowhere to go but down. After topping out at $5.610 and bottoming out at $5.555, the prompt month closed the day at $5.571, down 5.2 cents on the day.

All of the leading indicators for offshore construction activity point to “much higher levels of pipelay, derrick and diving activity,” and underlying fundamentals driving the offshore construction industry continue to be “very robust,” according to Raymond James Energy’s “Stat of the Week” for last week.

All of the leading indicators for offshore construction activity point to “much higher levels of pipelay, derrick and diving activity,” and underlying fundamentals driving the offshore construction industry continue to be “very robust,” according to Raymond James Energy “Stat of the Week.”

With winter setting in for the long haul, two indicators have become a constant. Natural gas prices continue to stay pegged in the upper echelon, and fertilizer producing companies continue to scale back their natural gas-intensive process of producing items such as ammonia and methanol.

With winter setting in for the long haul, two indicators havebecome a constant. Natural gas prices continue to stay pegged inthe upper echelon, and fertilizer producing companies continue toscale back their natural gas-intensive process of producing itemssuch as ammonia and methanol.